New Venezuelan Oil Woes Head to Court

The Venezuelan oil industry is currently embattled in two large lawsuits that may have a very serious impact on the future of Venezuelan oil production. The situation for the industry has been precarious since the introduction of the Bolivarian revolution. The state oil company seized (for the most part) from the capitalist class had been…

Oil Politics are Still the Order of the Day

Data shows that that the US is continuing to manipulate world oil prices in an effort to hinder oil producing countries, not in line with US foreign policy. As of Friday, the price of crude oil dropped 2 percent as the US has boosted domestic oil production by 1 percent. Meanwhile, Organization of the Petroleum…